FLUTTERWAVE ACCOUNTS IN KENYA FROZEN

AKenyan court has frozen Ksh400.6 million ($3.3 million) in accounts belonging to Nigerian payment company Flutterwave over money laundering and card fraud allegations. In a statement earlier, Flutterwave had denied the allegation of fraud, saying it had the necessary records to prove its innocence.

“Claims of financial improprieties involving the company in Kenya are entirely false, and we have the records to verify this,” the company said.

Flutterwave, now Africa’s biggest unicorn and valued at $3 billion since its $250 million Series D funding round in February, was founded in 2016 by Iyinoluwa Aboyeji, Olugbenga Agboola, and Adeleke Christopher.